Lanark County received their 2022 audit report during a special corporate services committee meeting Wednesday.
Accounting firm KPMG concluded the submitted financials from the county are in order.
The county walked away in 2022 with a $3.5 million surplus in operation expenses, which led to councillor Steve Fournier asking this question.
CAO Kurt Greaves says the county has $517 million in assets and $50 million in reserves, which he feels is a fair amount considering future growth and social housing projects coming down the line that aren’t included in their current figures.
He said supplemental growth and and increase income from the larger than expected interest rates contributed to the 2022 surplus.
Councillor Toby Randell feels a tax rate should remain steady over the course of several years.
He alluded to Lanark Highlands approving their 2023 budget with a 12% tax rate increase due in part to previous councils not raising the rate in prior years and forcing their hand to one huge jump.
Story by Grant Deme
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